The 1,164sqm site is zoned General Residential and was previously earmarked for a three-storey apartment project comprising 11 units.
“Following a campaign that generated more than 150 enquiries, the property sold under the hammer following strong bidding from domestic and international developers,” Mr Minty said.
“The sale represents a strong rate of $255,000 per apartment site and highlights the confidence in the outlook for Melbourne’s housing market. This is being underpinned by record low interest rates and a shortage of supply with less than half the weekly auctions taking place this year compared to last year.”.
Mr Mufale added; “We have experienced a notable increase in buyer confidence and activity post Melbourne’s Stage 4 lockdown period, with our team transacting 15 properties in the past six weeks.”
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